Lengthy documentation
Gathering and organizing extensive documentation required for GST registration can be time-consuming, delaying and hindering business operations.
Dealing with show cause notice can be a headache
It can be overwhelming to manage show cause notices (SCN) sent by the GST department, asking for clarification about the documents submitted during the registration process.
HSN/SAC confusion
You may find it challenging to classify goods and services correctly due to the complexity of HSN and SAC codes, which can lead to registration errors and compliance issues.
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What is the turnover limit for GST registration for services?
The mandatory GST registration limit for services (in terms of turnover) is Rs. 20 lakhs in most states and INR 10 lakhs for special category states.
Who is mandated to apply for GST registration?
Any businesses that deal with goods that have an annual turnover of more than 40 lakhs in India and businesses providing services with an annual turnover of more than 20 lakhs are mandated to apply for GST. For special category states, this limit is 20 lakhs and 10 lakhs each.
What is threshold limit for trading and manufacturing
The GST registration threshold limit for traders and manufacturers in normal category states is INR 40 lakhs and in special category states is INR 20 lakhs.
How much time does it take to get a GST registration?
On an average, it takes about 15 days from GST application submission to receiving a GSTIN (Although, this is subject to the approval and response time of the GST officers).